In All the Rank Tests,normality Is a Required Assumption for the Underlying

question 231

True/False

In all the rank tests,normality is a required assumption for the underlying populations.

---

Definitions:

Perfectly Competitive

A market structure characterized by many sellers and buyers, homogeneous products, no barriers to entry or exit, and perfect information, leading to optimal allocation of resources.

Market Price

The present cost at which a service or asset is available for purchase or sale on the market.

Marginal Cost

The financial outlay for creating an additional unit of a good or service.

Supply Curve

The supply curve is a graphical representation that shows the relationship between the price of a good and the quantity of the good that producers are willing to supply.